Virgin Media Announces Offering of $650 Million Senior Notes Due 2016 to Repay a...
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Virgin Media Announces Offering of $650 Million Senior Notes Due 2016 to Repay a
Portion of Senior Credit Facilities
LONDON, May 27, 2009 (GLOBE NEWSWIRE) -- Virgin Media Inc. (Nasdaq:VMED), a
leading UK entertainment and communications business, announced that its
wholly-owned subsidiary Virgin Media Finance PLC intends to offer, subject to
market and other conditions, approximately $650 million aggregate principal
amount of Senior Notes due 2016. The notes will rank pari passu with Virgin
Media Finance's outstanding senior notes due in 2014 and 2016.
Virgin Media intends to use the net proceeds from the notes offering to prepay a
portion of its outstanding "A" and "B" loans under its senior credit facilities.
This announcement shall not constitute an offer to sell or the solicitation of
an offer to buy the notes, nor shall there be any sale of the notes in any state
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state. A
registration statement relating to the notes became effective on May 27, 2009,
and this offering is being made by means of a prospectus supplement.
Virgin Media cautions you that statements included in this press release that
are not a description of historical facts are forward-looking statements that
involve risks, uncertainties, assumptions and other factors which, if they do
not materialize or prove correct, could cause Virgin Media's results to differ
materially from historical results or those expressed or implied by such
forward-looking statements. Certain of these factors are discussed in more
detail under "Risk Factors" and elsewhere in Virgin Media's Form 10-K filed with
the U.S. Securities and Exchange Commission on February 26, 2009. There can be
no assurance that the transactions contemplated in this announcement will be
completed. Virgin Media assumes no obligation to update any forward-looking
statement included in this announcement to reflect events or circumstances
arising after the date on which it was made.
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CONTACT: Virgin Media Inc.
Investor Relations:
Richard Williams
+44 (0) 20 7299 5479
richard.williams@virginmedia.co.uk
Vani Bassi
+44 (0) 20 7299 5353
vani.bassi@virginmedia.co.uk
Tavistock Media
Media:
Matt Ridsdale
+44 (0) 20 7920 3150
+44 (0)7545 577754
mridsdale@tavistock.co.uk
Lulu Bridges
+44 (0) 20 7920 3150
+44 (0)7831 170364
lbridges@tavistock.co.uk
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